Airline Losses Weigh Down Markets

Concerns about billion dollar losses in the airline industry after volcanic ash grounded thousands of flights weighed down the markets during the midday with the Dow easing a fraction to 11,116. Nasdaq slipped 2 points to 2497.

On the upside

Dearborn Bancorp (Nasdaq: DEAR) swung to a profit as loan loss provisions tumbled.

Huntington Bancshares (Nasdaq: HBAN) reversed year ago losses to post a better than expected profit for the first quarter due to lower loan loss provisions.

Hovnanian Enterprises (NYSE: HOV) settled charges of violating the Clean Water Act by agreeing to pay a $1 million fine.

On the downside

Vitacost.com (Nasdaq: VITC) blamed lower than expected sales for cutting its outlook for the first quarter as well as the full year.

Canadian Solar (Nasdaq: CSIQ) warned of lower than expected margins for the first quarter.

AirTran Holdings (NYSE: AAI) blamed increased fuel expenses for swinging to a loss for the first quarter.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 5 on the NYSE while decliners edged out advancers by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 723.